GOLD: $1312.10  UP $ 7.05  (COMEX TO COMEX CLOSINGS)

Silver: $16.43 UP 7 CENTS (COMEX TO COMEX CLOSINGS)

Closing access prices:

Gold $1312.35

silver: $16.43

For comex gold:

MAY/

NUMBER OF NOTICES FILED TODAY FOR MAY CONTRACT:0 NOTICE(S) FOR nil OZ.

TOTAL NOTICES SO FAR 14 FOR 1400 OZ (0.0435 tonnes)

For silver:

MAY

482 NOTICE(S) FILED TODAY FOR

2,410,000 OZ/

Total number of notices filed so far this month: 3451 for 17,255,000 oz

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Bitcoin: BID $9164/OFFER $9264: DOWN $17(morning)

Bitcoin: BID/ $9543/offer $9642: UP $362  (CLOSING/5 PM)

end

First Shanghai gold fix comes at 10 pm est

The second Shanghai gold fix:  2:15 pm

First Shanghai gold fix gold: 10 pm est:  1316.49

NY price  at the same time: 1309.50

PREMIUM TO NY SPOT: $6.99

ss

Second gold fix early this morning:  1317.75

USA gold at the exact same time:  1308.50

PREMIUM TO NY SPOT:  $9.25

AGAIN, SHANGHAI REJECTS NEW YORK PRICING.

WE WILL NOT PROVIDE LONDON FIXES AS THEY ARE NOT ACCURATE AS TO WHAT IS GOING ON AT THE SAME TIME FRAME.

Let us have a look at the data for today

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In silver, the total OPEN INTEREST FELL BY A CONSIDERABLE 1290 CONTRACTS FROM  194,965  FALLING TO 193,395  DESPITE YESTERDAY’S 24 CENT GAIN IN SILVER PRICING.    WE ARE NOW WITNESSING OUR USUAL AND CUSTOMARY COMEX LONG LIQUIDATION AS WE ENTERED INTO THE ACTIVE DELIVERY MONTH OF MAY AS LONGS PACK THEIR BAGS AND MIGRATE OVER TO LONDON.  WE WERE  NOTIFIED THAT WE HAD A GOOD SIZED NUMBER OF COMEX LONGS TRANSFERRING THEIR CONTRACTS TO LONDON THROUGH THE EFP :  , 2148 EFP’S FOR JULY AND ZERO FOR ALL  OTHER MONTHS  AND THEREFORE TOTAL ISSUANCE OF 2148 CONTRACTS. WITH THE TRANSFER OF 2148 CONTRACTS, WHAT THE CME IS STATING IS THAT THERE IS NO SILVER (OR GOLD) TO BE DELIVERED UPON AT THE COMEX AS THEY MUST EXPORT THEIR OBLIGATION TO LONDON. ALSO KEEP IN MIND THAT THERE CAN BE A DELAY OF 24-48 HRS IN THE ISSUING OF EFP’S. THE 2148 EFP CONTRACTS TRANSLATES INTO 10.74 MILLION OZ  ACCOMPANYING:

1.THE RISE IN  SILVER PRICE (24 CENTS) AT THE COMEX AND

2. THE STRONG AMOUNT OF SILVER OUNCES STANDING FOR MAY COMEX DELIVERY. (26.7 MILLION OZ)

ACCUMULATION FOR EFP’S/SILVER/J.P.MORGAN’S HOUSE OF BRIBES, / STARTING FROM FIRST DAY NOTICE/FOR MONTH OF APRIL: (FINAL)

8882 CONTRACTS (FOR 3 TRADING DAYS TOTAL 8882 CONTRACTS) OR 44.41 MILLION OZ: AVERAGE PER DAY: 2960 CONTRACTS OR 14.803 MILLION OZ/DAY

TO GIVE YOU AN IDEA AS TO THE HUGE SUPPLY THIS MONTH IN SILVER:  SO FAR THIS MONTH:  44.41 MILLION PAPER OZ HAVE MORPHED OVER TO LONDON. THIS REPRESENTS AROUND 6.34% OF ANNUAL GLOBAL PRODUCTION (EX CHINA EX RUSSIA)

ACCUMULATION IN YEAR 2018 TO DATE SILVER EFP’S:  1,189.9      MILLION OZ.

ACCUMULATION FOR JAN 2018:                                               236.879     MILLION OZ

ACCUMULATION FOR FEB 2018:                                               244.95         MILLION OZ

ACCUMULATION FOR MARCH 2018:                                       236.67         MILLION OZ

ACCUMULATION FOR APRIL 2018:                                          385.75         MILLION OZ

RESULT: WE HAD A CONSIDERABLE SIZED FALL IN COMEX OI SILVER COMEX OF 1290 DESPITE THE  24 CENT GAIN IN SILVER PRICE. WE HAVE NOW ENTERED THE NEW ACTIVE MONTH OF MAY.   THE CME NOTIFIED US THAT IN FACT WE HAD AN STRONG  SIZED EFP ISSUANCE OF 2148 CONTRACTS WHICH EXITED OUT OF THE SILVER COMEX AND TRANSFERRED THEIR OI TO LONDON AS FORWARDS. SPECULATORS CONTINUED THEIR INTEREST IN ATTACKING THE SILVER COMEX FOR PHYSICAL SILVER (SEE COMEX DATA) . FROM THE CME DATA:  2148 EFP CONTRACTS FOR JULY, AND ZERO FOR ALL OVER MONTHS   FOR  A DELIVERABLE FORWARD CONTRACT OVER IN LONDON WITH A FIAT BONUS (TOTAL: 2148). TODAY WE GAINED 974  TOTAL OI CONTRACTS  ON THE TWO EXCHANGES: i.e. 2148 OPEN INTEREST CONTRACTS HEADED FOR LONDON  (EFP’s) TOGETHER WITH AN DECREASE OF 1290  OI COMEX CONTRACTS. AND ALL OF THIS HAPPENED WITH THE RISE IN PRICE OF SILVER OF 24 CENTS AND A CLOSING PRICE OF $16.36 WITH RESPECT TO YESTERDAY’S TRADING. YET WE STILL HAVE A STRONG AMOUNT OF SILVER STANDING AT THE COMEX FOR DELIVERY IN THIS  ACTIVE MAY DELIVERY MONTH. IT SURE SEEMS THAT WE MUST HAVE HAD SOME BANKER SHORT COVERING ON BOTH EXCHANGES.

In ounces AT THE COMEX, the OI is still represented by UNDER 1 BILLION oz i.e. .967 MILLION OZ TO BE EXACT or 138% of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED AT THE COMEX: 482 NOTICE(S) FOR 2,410,000 OZ OF SILVER

IN SILVER, WE HAVE NOW SET THE NEW RECORD OF OPEN INTEREST AT 243,411 AND AGAIN THIS HAS BEEN SET WITH A LOW PRICE OF $16.51  ON APRIL 9.2018.

ON THE DEMAND SIDE WE HAVE THE FOLLOWING:

1. HUGE AMOUNTS OF SILVER STANDING FOR DELIVERY  (MARCH: 27 MILLION OZ , APRIL: 2.485 MILLION OZ  AND MAY: 26.7 MILLION OZ )
2. HUGE RECORD OPEN INTEREST IN SILVER  243,411 CONTRACTS (OR 1.217 BILLION OZ/ SET APRIL 9/2018
3. HUGE ANNUAL EFP’S ISSUANCE EQUAL TO 2.9 BILLION OZ OR 400% OF SILVER ANNUAL PRODUCTION/2017
4. RECORD SETTING EFP ISSUANCE FOR ANY MONTH IN SILVER; APRIL/2018/ 385.75 MILLION OZ/ (FINAL)

AND YET, WITH THE EXTREMELY HIGH EFP ISSUANCE, WE HAVE A CONTINUAL LOW PRICE OF SILVER DESPITE THE ABOVE HUGE DEMAND.  TO ME THE ONLY ANSWER IS THAT WE HAVE SOVEREIGN  (CHINA) WHO IS ENDEAVOURING TO GOBBLE UP ALL AVAILABLE PHYSICAL SILVER NO MATTER WHERE, EXACTLY WHAT J.P.MORGAN IS DOING. AND IT IS MY BELIEF THAT J.P.MORGAN IS HOLDING ITS SILVER FOR ITS BENEFICIAL OWNER..THE USA GOVERNMENT WHO IN TURN IS HOLDING THAT SILVER FOR CHINA.(FOR A SILVER LOAN REPAYMENT). IT ALSO LOOKS LIKE BANKER CAPITULATION IN SILVER AS THEY STRUGGLE TO REMOVE SOME OF THEIR HUGE OBLIGATIONS.

In gold, the open interest FELL BY A STRONG 6691 CONTRACTS DOWN TO 501,065 WITH THE FALL IN THE GOLD PRICE/YESTERDAY’S TRADING (LOSS OF $1.15).  WE ARE NOW IN THE NON ACTIVE DELIVERY MONTH OF MAY.  THE CME RELEASED THE DATA FOR EFP ISSUANCE AND IT TOTALED AN ATMOSPHERIC SIZED 17,479 CONTRACTS :   JUNE SAW THE ISSUANCE OF 17,479 CONTRACTS , MAY SAW THE ISSUANCE OF 0 CONTRACTS  AND AUGUST SAW THE ISSUANCE OF: 0 CONTRACTS WITH ALL OTHER MONTHS ZERO.  The new OI for the gold complex rests at 501,065. ALSO REMEMBER THAT THERE WILL BE A DELAY IN THE ISSUANCE OF EFP’S.  THE BANKERS REMOVE LONG POSITIONS OF COMEX GOLD IMMEDIATELY.  THEN THEY ORCHESTRATE THEIR PRIVATE EFP DEAL WITH THE LONGS AND THAT COULD TAKE AN ADDITIONAL 48 HRS SO WE GENERALLY DO NOT GET A MATCH WITH RESPECT TO DEPARTING COMEX LONGS AND NEW EFP LONG TRANSFERS. . EVEN THOUGH THE BANKERS ISSUED THESE MONSTROUS EFPS, THE OBLIGATION STILL RESTS WITH THE BANKERS TO SUPPLY METAL BUT IT TRANSFERS THE RISK TO A LONDON BANKER OBLIGATION AND NOT A NEW YORK COMEX OBLIGATION. LONGS RECEIVE A FIAT BONUS TOGETHER WITH A LONG LONDON FORWARD. THUS, BY THESE ACTIONS, THE BANKERS AT THE COMEX HAVE JUST STATED THAT THEY HAVE NO APPRECIABLE METAL!! THIS IS A MASSIVE FRAUD: THEY CANNOT SUPPLY ANY METAL TO OUR COMEX LONGS BUT THEY ARE QUITE WILLING TO SUPPLY MASSIVE NON BACKED GOLD (AND SILVER) PAPER KNOWING THAT THEY HAVE NO METAL TO SATISFY OUR LONGS. LONDON IS NOW SEVERELY BACKWARD IN BOTH GOLD AND SILVER  AND WE ARE WITNESSING DELAYS IN ACTUAL DELIVERIES.

IN ESSENCE WE HAVE A HUMONGOUS SIZED  OI GAIN IN CONTRACTS ON THE TWO EXCHANGES: 6691  OI CONTRACTS DECREASED AT THE COMEX AND AN ATMOSPHERIC SIZED 17,4797 EFP OI CONTRACTS WHICH NAVIGATED OVER TO LONDON.THUS  TOTAL OI GAIN: 10,788 CONTRACTS OR 1,078,800 OZ = 33.56 TONNES. AND ALL OF THIS OCCURRED WITH A LOSS OF $1.15 DURING YESTERDAY’S CONTINUAL BOMBARDMENT???

YESTERDAY, WE HAD 13,207  EFP’S ISSUED.

ACCUMULATION OF EFP’S GOLD AT J.P. MORGAN’S HOUSE OF BRIBES: (EXCHANGE FOR PHYSICAL) FOR THE MONTH OF MAY : 36,433 CONTRACTS OR 3643,300  OZ OR 113.32 TONNES (3 TRADING DAYS AND THUS AVERAGING: 12,144 EFP CONTRACTS PER TRADING DAY OR 1,214,400 OZ/ TRADING DAY),

TO GIVE YOU AN IDEA AS TO THE HUGE SIZE OF THESE EFP TRANSFERS :    THIS MONTH IN 3 TRADING DAYS IN  TONNES: 113.32 TONNES

TOTAL ANNUAL GOLD PRODUCTION, 2017, THROUGHOUT THE WORLD EX CHINA EX RUSSIA: 2555 TONNES

THUS EFP TRANSFERS REPRESENTS 113.32/2550 x 100% TONNES =  2.31% OF GLOBAL ANNUAL PRODUCTION SO FAR IN APRIL ALONE.*** THE ACCUMULATION OF EFP CONTRACTS IS RISING PER MONTH.

ACCUMULATION OF GOLD EFP’S YEAR 2018 TO DATE:  2,871.27*  TONNES   *SURPASSED ANNUAL PROD’N

ACCUMULATION OF GOLD EFP’S FOR JANUARY 2018:           653.22  TONNES

ACCUMULATION OF GOLD EFP’S FOR FEBRUARY 2018:         649.45 TONNES

ACCUMULATION OF GOLD EFP’S FOR MARCH 2018:                741.89 TONNES  (22 TRADING DAYS)

ACCUMULATION OF GOLD EFP’S FOR APRIL 2018:                   713.84 TONNES  (21 TRADING DAYS)

WHAT IS ALARMING TO ME, ACCORDING TO OUR LONDON EXPERT ANDREW MAGUIRE IS THAT THESE EFP’S ARE BEING TRANSFERRED TO WHAT ARE CALLED SERIAL FORWARD CONTRACT OBLIGATIONS AND THESE CONTRACTS ARE LESS THAN 14 DAYS.  ANYTHING GREATER THAN 14 DAYS, THESE MUST BE RECORDED AND SENT TO THE COMPTROLLER, GREAT BRITAIN TO MONITOR RISK TO THE BANKING SYSTEM.  IF THIS IS INDEED TRUE, THEN THIS IS A MASSIVE CONSPIRACY TO DEFRAUD AS WE NOW WITNESS A MONSTROUS TOTAL EFP’S ISSUANCE AS IT HEADS INTO THE STRATOSPHERE. 

Result: A GOOD  DECREASE IN OI AT THE COMEX OF 6691  DESPITE THE TINY FALL  IN PRICE // GOLD TRADING YESTERDAY ($1.15 LOSS). HOWEVER WE ALSO HAD A HUMONGOUS SIZED NUMBER OF COMEX LONG TRANSFERRING TO LONDON THROUGH THE EFP ROUTE: 17,479 CONTRACTS AS THESE HAVE ALREADY BEEN NEGOTIATED AND CONFIRMED.   THERE OBVIOUSLY DOES NOT SEEM TO BE MUCH PHYSICAL GOLD AT THE COMEX.  I GUESS IT EXPLAINS THE HUGE ISSUANCE OF EFP’S…THERE IS HARDLY ANY GOLD PRESENT AT THE GOLD COMEX FOR DELIVERY PURPOSES. IF YOU TAKE INTO ACCOUNT THE 17,479 EFP CONTRACTS ISSUED, WE HAD A STRONG SIZED NET GAIN OF 10,788 CONTRACTS IN TOTAL OPEN INTEREST  ON THE TWO EXCHANGES: 

6691 CONTRACTS MOVE TO LONDON AND 17,479 CONTRACTS INCREASED AT THE COMEX. (in tonnes, the GAIN in total oi equates to 33.56 TONNES).

we had: 0 notice(s) filed upon for NIL oz of gold at the comex.

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With respect to our two criminal funds, the GLD and the SLV:

GLD…

WITH GOLD UP  $7.05 /NO CHANGES IN GOLD INVENTORY AT THE GLD

Inventory rests tonight: 866.77 tonnes.

SLV/

WITH SILVER UP 7 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/ 

/INVENTORY RESTS AT 322.981 MILLION OZ/

end

First, here is an outline of what will be discussed tonight:

1. Today, we had the open interest in SILVER FELL BY A CONSIDERABLE 1290 CONTRACTS from 194,685 DOWN TO 193,395 (AND FURTHER FROM THE  NEW COMEX RECORD SET /APRIL 9/2017 AT 243,411/SILVER PRICE AT THAT DAY: $16.53). THE PREVIOUS RECORD OTHER THAN WAS ESTABLISHED AT: 234,787, SET ON APRIL 21.2017 OVER ONE YEAR AGO.  THE PRICE OF SILVER ON THAT DAY: $17.89.   OUR CUSTOMARY MIGRATION OF COMEX LONGS MORPH INTO LONDON FORWARDS CONTINUES AS OUR BANKERS USED THEIR EMERGENCY PROCEDURE TO ISSUE: 0 EFP CONTRACTS FOR APRIL, 0 EFP CONTRACTS FOR MAY  (WE DO NOT GET A LOOK AT THESE CONTRACTS AS IT IS PRIVATE BUT THE CFTC DOES AUDIT THEM), AND 2148 EFP’S FOR JULY AND ALL OTHER MONTHS ZERO. TOTAL EFP ISSUANCE:  2148 CONTRACTS. EFP’S GIVE OUR COMEX LONGS A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  IF WE TAKE THE  OI LOSS AT THE COMEX OF 1290 CONTRACTS TO THE 2148 OI TRANSFERRED TO LONDON THROUGH EFP’S,  WE OBTAIN A  GAIN OF 858 OPEN INTEREST CONTRACTS.  THUS IN OUNCES, THE GAIN ON THE TWO EXCHANGES:  4.29 MILLION OZ!!! AND THIS OCCURRED DESPITE THE  RISE IN PRICE OF 24 CENTS.  THE BANKERS ORCHESTRATED THEIR RAID THROUGHOUT LAST WEEK  DESPERATELY TRYING TO PARE THEIR GIGANTIC OPEN INTEREST SHORT ON BOTH EXCHANGES BUT TO NO AVAIL. JUDGING BY THE RECORD NUMBER OF EFP ISSUANCE DURING LAST MONTH OF APRIL AT 385.75 MILLION OZ AND THE TOTAL OI GAIN ON THE TWO EXCHANGES, I DO NOT THINK THAT OUR BANKERS HAVE BEEN TOO SUCCESSFUL. THE CONSTANT RAIDS ARE NOW BEING CALLED UPON BY OUR BANKER FRIENDS ARE DONE IN AN ATTEMPT TO SHAKE AS MANY SILVER LEAVES FROM THE SILVER TREE AS POSSIBLE.

RESULT: A STRONG SIZED DECREASE IN SILVER OI AT THE COMEX DESPITE THE RISE  IN SILVER PRICING / YESTERDAY (24 CENTS/) . BUT WE ALSO HAD ANOTHER GOOD SIZED 2148 EFP’S ISSUED TRANSFERRING COMEX LONGS OVER TO LONDON. TOGETHER WITH THE STRONG  SIZED AMOUNT OF SILVER OUNCES STANDING FOR APRIL, DEMAND FOR PHYSICAL SILVER CONTINUES TO INTENSIFY AS WE WITNESS SEVERE BACKWARDATION IN SILVER IN LONDON.

(report Harvey)

.

2.a) The Shanghai and London gold fix report

(Harvey)

2 b) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge

and in NY: Bloomberg

3. ASIAN AFFAIRS

i)THURSDAY MORNING/WEDNESDAY NIGHT: Shanghai closed UP 19.68 points or .64%   /Hang Sang CLOSED down 410.51 points or 1.34%    / The Nikkei closed HOLIDAY /Australia’s all ordinaires CLOSED UP .82%  /Chinese yuan (ONSHORE) closed UP at 6.3482/Oil DOWN to 67.91 dollars per barrel for WTI and 72.95 for Brent. Stocks in Europe OPENED DEEPLY IN THE RED.   ONSHORE YUAN CLOSED UP AT 6.3482 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.3514/ONSHORE YUAN TRADING WEAKER AGAINST OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING  STRONGER AGAINST THE DOLLAR /CHINA RETALIATES WITH TARIFFS/ TRUMP RESPONDS TO NEW TARIFFS AND IT NOW LOOKS LIKE A FULL TRADE WAR IS BEGINNING/

/NORTH KOREA/SOUTH KOREA

i)North Korea/South Korea/USA

b) REPORT ON JAPAN

3 c CHINA

4. EUROPEAN AFFAIRS

5. RUSSIAN AND MIDDLE EASTERN AFFAIRS

6 .GLOBAL ISSUES

7. OIL ISSUES

8. EMERGING MARKET

9. PHYSICAL MARKETS

10. USA stories which will influence the price of gold/silver

i)Trading this morning:

Trading Volumes on the COMEX

PRELIMINARY COMEX VOLUME FOR TODAY: 405,242  contracts

CONFIRMED COMEX VOL. FOR YESTERDAY: 300,675 contracts

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And now for the wild silver comex results.

Total silver OI FELL BY A CONSIDERABLE 1290 CONTRACTS FROM 194,685 DOWN TO 193,395 (AND FURTHER FROM THE NEW RECORD OI FOR SILVER SET APRIL 9.2018/ 243,411 CONTRACTS)  DESPITE THE  24 CENT GAIN IN SILVER PRICING. SINCE WE ARE NOW INTO THE  ACTIVE DELIVERY MONTH OF MAY. WE  WERE  INFORMED THAT WE HAD A GOOD SIZED  2148 EFP CONTRACT ISSUANCE FOR JULY AND ZERO FOR ALL OTHER MONTHS.  THESE EFPS WERE ISSUED TO COMEX LONGS WHO RECEIVED A FIAT BONUS PLUS A DELIVERABLE PRODUCT OVER IN LONDON.  THE TOTAL EFP’S ISSUED: 2148.   ON A NET BASIS WE GAINED 858  SILVER OPEN INTEREST CONTRACTS AS WE OBTAINED A 1290 CONTRACT LOSS AT THE COMEX COMBINING WITH THE ADDITION OF 2148 OI CONTRACTS NAVIGATING OVER TO LONDON. DUE TO THE FACT THAT THE BOYS WERE VERY BUSY NEGOTIATING LONG COMEX CONTRACTS EMIGRATING TO LONDON,(AND WAITING FOR THEIR PASSPORTS)

NET GAIN  ON THE TWO EXCHANGES:   858  CONTRACTS 

AMOUNT STANDING FOR SILVER AT THE COMEX

We are now in the  active delivery month of MAY and here the front month LOST 754 contracts FALLING TO 1128 contracts. We had 814 notices filed upon yesterday so we SURPRISINGLY AGAIN GAINED 60 contracts or 300,000 additional ounces will  stand for delivery in this  active delivery month of May AS SOMEBODY WAS DESPERATE FOR PHYSICAL SILVER..

June saw a LOSS of 249 contracts to stand at 790.  The next big delivery month for silver is July and here the OI FELL by 1346 contracts DOWN to 141,535. The next active delivery month after July for silver is September and here the OI ROSE by 477 contracts UP to 20,160

We had 482 notice(s) filed for 2,410,000 OZ for the MAY 2018 contract for silver

end

And now for silver

AND NOW THE APRIL DELIVERY MONTH

MAY INITIAL standings/SILVER

we had 1 inventory movement at the dealer side of things

i) Into dealer: CNT: 1,202,536.440 oz

total dealer deposits: 1,202,536.440 oz

we had 0 deposits into the customer account

i) Into JPMorgan: nil oz

*** JPMorgan for most of 2017 and in 2018 has adding to its inventory almost every single day.

JPMorgan now has 140 million oz of  total silver inventory or 53.4% of all official comex silver. (140 million/263 million)

JPMorgan did not  deposit  into its warehouses (official) today.

ii) EVERYBODY ELSE:  ZERO OZ

total deposits today: nil oz

we had 0 withdrawals from the customer account;

total withdrawals;  nil  oz

we had 0 adjustment

.

total dealer silver:  66.568 million

total dealer + customer silver:  266.799 million oz

The total number of notices filed today for the MAY. contract month is represented by 482 contract(s) FOR 2,410,000 oz. To calculate the number of silver ounces that will stand for delivery in MAY., we take the total number of notices filed for the month so far at 4265 x 5,000 oz = 21,325,000 oz to which we add the difference between the open interest for the front month of MAY. (1128) and the number of notices served upon today (482 x 5000 oz) equals the number of ounces standing.

.

Thus the INITIAL standings for silver for the MAY contract month: 4265(notices served so far)x 5000 oz + OI for front month of MAY(1128) -number of notices served upon today (482)x 5000 oz equals 26,965,000 oz of silver standing for the MAY contract month 

WE GAINED 60 CONTRACTS OR AN ADDITIONAL 300,000 OZ WILL  STAND AT THE COMEX AND THESE GUYS DID NOT MORPH INTO LONDON BASED FORWARDS BUT ARE STANDING FOR PHYSICAL METAL AT THE COMEX.

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ESTIMATED VOLUME FOR TODAY: 107,566 CONTRACTS

CONFIRMED VOLUME FOR YESTERDAY: 88,875 CONTRACTS (my goodness)

YESTERDAY’S CONFIRMED VOLUME OF  88,875 CONTRACTS EQUATES TO 444 MILLION OZ  OR 63.4% OF ANNUAL GLOBAL PRODUCTION OF SILVER

COMMODITY LAW SUGGESTS THAT OPEN INTEREST SHOULD NOT BE MORE THAN 3% OF ANNUAL GLOBAL PRODUCTION. THE CROOKS ARE SUPPLYING MASSIVE PAPER TRYING TO KEEP SILVER IN CHECK.

The record level of silver open interest is 234,787 contracts set on April 21./2017 with the price at that day at $18.42
The previous record was 224,540 contracts with the price at that time of $20.44

end

NPV for Sprott 

1. Sprott silver fund (PSLV): NAV FALLS TO -1.24% (MAY2/2018)
2. Sprott gold fund (PHYS): premium to NAV FALLS TO -0.51% to NAV (MAY 2/2018 )
Note: Sprott silver trust back into NEGATIVE territory at -1.24%-/Sprott physical gold trust is back into NEGATIVE/ territory at -0.51%/Central fund of Canada’s is still in jail but being rescued by Sprott.
Sprott WINS hostile 3.1 billion bid to take over Central Fund of Canada

(courtesy Sprott/GATA)

3.SPROTT CEF.A FUND (FORMERLY CENTRAL FUND OF CANADA): NAV FALLS TO -2.35`%: NAV 13.56/TRADING 13.25//DISCOUNT 2.035

END

And now the Gold inventory at the GLD/

MAY 3/WITH GOLD UP $7.05/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 866.77 TONNES

MAY 2/WITH GOLD DOWN $1.15/ A HUGE WITHDRAWAL OF 4.43 TONNES FROM THE GLD/INVENTORY RESTS AT 866.77 TONNES

MAY 1/WITH GOLD DOWN $12.15/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 871.20 TONNES

APRIL 30/WITH GOLD DOWN $4.05/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 871.20 TONNES.

APRIL 27./WITH GOLD UP $5.90/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 871.20 TONNES/

APRIL 26/WITH GOLD DOWN $4.90/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 871.20 TONNES

APRIL 25/AFTER 9 CONSECUTIVE DAYS OF NO MOVEMENT OF GOLD INTO OUT OF THE GLD, WE HAD A HUGE DEPOSIT OF 5.31 TONNES OF GOLD INTO THE GLD/INVENTORY RESTS AT 871.20 TONNES.

APRIL 24./WITH GOLD UP $9.90, WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 865.89 TONNES/

APRIL 23.2018/WITH GOLD DOWN $14.00/NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 865.89 TONNES.

APRIL 20/WITH GOLD DOWN $10.20: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 865.89 TONNES

APRIL 19/WITH GOLD DOWN $4.25: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 865.89 TONNES/

APRIL 18/WITH GOLD UP $3.65: NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 865.89 TONNES

APRIL 17/WITH GOLD DOWN $1.00 NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 865.89 TONNES/

April 16/WITH GOLD UP$2.80/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 865.89 TONNES/

April 13/WITH GOLD UP $6.15, A HUGE DEPOSIT OF 5.90 TONNES INTO THE GLD INVENTORY/INVENTORY RESTS AT 865.89 TONNES

April 12/WITH GOLD DOWN $17.40/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 859.99 TONNES

April 11/WITH GOLD UP $13.85/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 859,99 TONNES

APRIL 10/WITH GOLD UP $5.25/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 859.99 TONNES

APRIL 9/WITH GOLD UP$4.50/NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 859.99 TONNES

APRIL 6/WITH GOLD UP $7.50 ,A HUGE CHANGE IN INVENTORY AT THE GLD/ A DEPOSIT OF 5.90 TONNES/INVENTORY RESTS AT 859.99 TONNES

APRIL 5/WITH GOLD DOWN $8.20 WE HAD TWO ENTRIES: 1) TINY WITHDRAWAL OF .28 TONNES TO PAY FOR FEES AND 2) A DEPOSIT OF 2.06 TONNES//INVENTORY RESTS AT 854.09 TONNES

April 4/WITH GOLD UP $2.90 WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 852.31 TONNES

APRIL 3./WITH GOLD DOWN $9.30 WE HAD NO CHANGES IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS AT 852.31 TONNES

APRIL 2/WITH GOLD UP $19.50, WE HAD A BIG  CHANGES IN GOLD INVENTORY AT THE GLD A DEPOSIT OF 6.19 TONNES/INVENTORY RESTS AT 852.31 TONNES

MARCH 29/WITH GOLD DOWN $3.20 AND OPTIONS EXPIRY FINISHED, WE HAD NO CHANGE IN GOLD INVENTORY AT THE GLD/INVENTORY RESTS A 846.12 TONNES

March 28/WITH GOLD DOWN $16.70, ANOTHER RAID ORCHESTRATED, AGAIN NO SURPRISES AS WE WITNESS ANOTHER 1.18 TONNES OF GOLD REMOVED/INVENTORY RESTS AT 846.12 TONNES

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MAY 3/2018/ Inventory rests tonight at 866.77 tonnes

*IN LAST 375 TRADING DAYS: 74,27 NET TONNES HAVE BEEN REMOVED FROM THE GLD
*LAST 325 TRADING DAYS: A NET 82.03 TONNES HAVE NOW BEEN ADDED INTO GLD INVENTORY.

end

Now the SLV Inventory/

MAY 2/WITH SILVER UP 24 CENTS/A HUGE CHANGE IN SILVER INVENTORY AT THE SLV// A DEPOSIT OF 6.082 MILLION OZ INTO THE SLV/INVENTORY RESTS AT 322.981 MILLION OZ/

MAY 1/WITH SILVER DOWN 24 CENTS/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316.899 MILLION OZ/

APRIL 30/WITH SILVER DOWN 11 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316.899 MILLION OZ/

APRIL 27/WITH SILVER DOWN 5 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316.899 MILLION OZ/

APRIL 26/WITH SILVER DOWN 2 CENT/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316,899 MILLION OZ/

APRIL 25./WITH SILVER DOWN 18 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 316.899 MILLION OZ/

APRIL 24./WITH SILVER UP 8 CENTS/SOMETHING SPOOKED OUR CROOKS TO ADD SOME PAPER SILVER: A DEPOSIT OF 1.601 MILLION OZ/INVENTORY RESTS AT 316.899 MILLION OZ/

APRIL 23.2018/WITH SILVER DOWN 50 CENTS, ANOTHER HUGE WITHDRAWAL FROM THE SLV INVENTORY: A WITHDRAWAL OF 1.413 MILLION OZ/INVENTORY RESTS AT 315.298 MILLION OZ.

APRIL 20/WITH SILVER DOWN 11 CENTS: ANOTHER HUGE CHANGE IN SILVER INVENTORY: A WITHDRAWAL OF 1.13 MILLION OZ//SLV RESTS TONIGHT AT 316.711 MILLION OZ/

APRIL 19/WITH SILVER UP 3 CENTS TODAY: WE HAD A BIG CHANGE IN SILVER INVENTORY AT THE SLV: A WITHDRAWAL OF 2.355 MILLION OZ/ MAKES ABSOLUTELY NO SENSE!!/INVENTORY RESTS AT 317.841 MILLION OZ

APRIL 18/WITH SILVER UP 44 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 320.196 MILLION OZ

APRIL 17/WITH SILVER UP 10 CENTS TODAY/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS  AT 320.196 MILLION OZ

April 16/WITH SILVER UP 7 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 320.196 MILLION OZ/

April 13/WITH SILVER UP 17 CENTS TODAY: NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 320.196 MILLION OZ.

April 12/WITH SILVER DOWN 27 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 320.196 MILLION OZ/

April 11/2018/WITH SILVER UP 16 CENTS:  NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 320.196 MILLION OZ/

APRIL 10/WITH GOLD UP 8 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 320.196 MILLION OZ/

APRIL 9/WITH SILVER UP 12 CENTS/WE HAD NO CHANGES IN SILVER INVENTORY/INVENTORY RESTS AT 320.196 MILLION OZ/

APRIL 6/WITH SILVER UP 4 CENTS, WE HAD A HUGE DEPOSIT OF 1.319 MILLION OZ INTO THE SLV INVENTORY/INVENTORY RESTS AT 320.196 MILLION OZ

APRIL 5/WITH SILVER UP 6 CENTS/NO CHANGES IN INVENTORY AT THE SLV/INVENTORY RESTS AT 318.877 MILLION OZ/

April 4/WITH SILVER DOWN 11 CENTS/A SMALL CHANGE IN SILVER INVENTORY AT THE SLV/ A WITHRAWAL OF 135,000 OZ AND THIS IS PROBABLY TO PAY FOR FEES/INVENTORY RESTS AT 318.877 MILLION OZ/

APRIL 3./WITH SILVER DOWN 16 CENTS/NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 319.012 MILLION OZ/

APRIL 2/WITH SILVER UP 34 CENTS/NO CHANGES IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 319.012 MILLION OZ/

MARCH 29/WITH SILVER UP 6 CENTS, THE CROOKS DECIDED THAT THEY HAD BETTER ADD SOME 943,000 PAPER OZ TO THEIR INVENTORY/INVENTORY RESTS AT 319.012 MILLION OZ

March 28/WITH SILVER DOWN 27 CENTS/AGAIN NO CHANGE IN SILVER INVENTORY AT THE SLV/INVENTORY RESTS AT 318.069 MILLION OZ

MAY 2/2018:  A HUGE   CHANGE IN SILVER INVENTORY:  A DEPOSIT OF 6.082 MILLION OZ

Inventory 322.981 million oz

end

6 Month MM GOFO 2.02/ and libor 6 month duration 2.51

Indicative gold forward offer rate for a 6 month duration/calculation:

G0FO+ 2.02%

libor 2.51 FOR 6 MONTHS/

GOLD LENDING RATE: .49%

XXXXXXXX

12 Month MM GOFO
+ 2.78%

LIBOR FOR 12 MONTH DURATION: 2.50

GOFO = LIBOR – GOLD LENDING RATE

GOLD LENDING RATE  = +.28

end

Major gold/silver trading /commentaries for WEDNESDAY

GOLDCORE/BLOG/MARK O’BYRNE.

GOLD/SILVER

Another great commentary from Bill Holter

(courtesy Bill Holter/Holter-Sinclair Collaboration)

3. ASIAN AFFAIRS

i)THURSDAY MORNING/WEDNESDAY NIGHT: Shanghai closed UP 19.68 points or .64%   /Hang Sang CLOSED down 410.51 points or 1.34%    / The Nikkei closed HOLIDAY /Australia’s all ordinaires CLOSED UP .82%  /Chinese yuan (ONSHORE) closed UP at 6.3482/Oil DOWN to 67.91 dollars per barrel for WTI and 72.95 for Brent. Stocks in Europe OPENED DEEPLY IN THE RED.   ONSHORE YUAN CLOSED UP AT 6.3482 AGAINST THE DOLLAR. OFFSHORE YUAN CLOSED UP ON THE DOLLAR AT 6.3514/ONSHORE YUAN TRADING WEAKER AGAINST OFFSHORE YUAN/ONSHORE YUAN TRADING STRONGER AGAINST USA DOLLAR/OFFSHORE YUAN TRADING  STRONGER AGAINST THE DOLLAR /CHINA RETALIATES WITH TARIFFS/ TRUMP RESPONDS TO NEW TARIFFS AND IT NOW LOOKS LIKE A FULL TRADE WAR IS BEGINNING/

3 a NORTH KOREA/USA

North Korea/South Korea/usa

North Korea releases 3 USA prisoners

(courtesy zerohedge)

3 b JAPAN AFFAIRS

c) REPORT ON CHINA/HONG KONG

4. EUROPEAN AFFAIRS

8. EMERGING MARKET

Venezuela

end

And now your more important USA stories which will influence the price of gold/silver

TRADING IN GRAPH FORM FOR THE DAY

END

Two big stories last night:  First Giuliani states that Trump reimbursed Cohen for the Stormy Daniels hush money;

(courtesy zerohedge)

Giuliani Says Trump Reimbursed Cohen For Stormy Daniels Hush Payment

In a Wednesday statement which promises to keep White House Press Secretary Sarah Sanders busy for the next few news cycles, former New York City Mayor and recent addition to Trump’s legal team, Rudy Giuliani, told Fox’s Sean Hannity that President Trump reimbursed his personal attorney, Michael Cohen, $130,000 which Cohen paid to adult film star Stormy Daniels.

Giuliani, paradoxically in his new capacity as Trump’s lawyer, says that the payment was “perfectly legal” and that it was “not campaign money,” meaning that the payment did not violate campaign finance law.

“Funneled through a law firm, and the president repaid it,” Giuliani said, adding “He didn’t know about the specifics of it but he did know about the general arrangement, that Michael would take care of things like this.”

Jon Passantino✔@passantino

Giuliani says Trump repaid Cohen the $130,000 used as hush money for Stormy Daniels

Where it gets complicated for Trump is that Cohen told the New York Times in February that he paid $130,000 to Daniels out of his own pocket, and that neither the Trump Organization or the Trump Campaign had anything to do with the 2016 transaction.

“Neither the Trump Organization nor the Trump campaign was a party to the transaction with Ms. Clifford, and neither reimbursed me for the payment, either directly or indirectly,” Cohen told The New York Times. “The payment to Ms. Clifford was lawful, and was not a campaign contribution or a campaign expenditure by anyone.”

Following the report, nonprofit watchdog group Common Cause filed a complaint with the DOJ and the Federal Election Commission claiming that the payment to Clifford violated campaign finance laws because it was an “unreported in-kind contribution to the president’s 2016 campaign.”

So with Cohen paying Daniels, and Trump paying Cohen, viola – no problems! Right?

Well no: here’s the rub…

Scott Stedman@ScottMStedman

April 5, 2018:
“Mr. President, did you know about the $130,000 payment to Stormy Daniels?”
President Trump: “No”https://www.youtube.com/watch?v=tE2XHYxkJgw …

Yashar Ali ✔@yashar

Replying to @yashar

And now, thanks to Giuliani, Trump will have no choice but to give yet another “explanation” for why the official narrative has just broken down which means more angry tweets and out bursts, and who knows, maybe more chemical false flag attacks by Assad to justify another airstrike or two on Syria.

END

Trump defends the hush payment saying that it did not come from campaign funds.  Giuliani last night was trying to do two things:

1. shield Cohen from perjury

2.prevent Trump from violating election spending violations

(courtesy zero hedge)

Trump Defends “Hush” Payment After Giuliani Revelation, Stormy Daniels’ Lawyer “Speechless”

Late last night, Rudy Giuliani shocked viewerswhen he revealed during an interview with Sean Hannity that President Trump had, in fact, reimbursed his personal attorney Michael Cohen for a $130,000 “hush money” payment to porn star Stormy Daniels, saying the president “didn’t know about the specifics” but that he was aware “of the general arrangement.”

For a moment, the entire Washington political establishment held its breath. After all, it sounded as if Giuliani had just contradicted a statement that Cohen had made both during an interview with the New York Times and during court testimony – and could leave him exposed to a perjury charge. After flying into damage control mode, Giuliani later suggested that while Trump had repaid the $130,000, Cohen had made the payment to Daniels without Trump’s knowledge at the time.

The statement could also rebound on the president: Trump himself had also repeatedly denied having any knowledge of it, meaning that, in addition to possibly putting Cohen in legal jeopardy, Giuliani – Trump’s brand new lawyer – had seemingly risked ensnaring his boss in the controversy as well.

So this morning, President Trump himself weighed in to clarify Giuliani’s statement, providing some of his most detailed comments yet about the lawsuit brought against him and Cohen by Daniels.

Mark Knoller✔@markknoller

Trump/Giuliani.
On April 5:
Q Mr. President, did you know about the $130,000 payment to Stormy Daniels? THE PRESIDENT: No. No. What else?
May 2:
Giuliani: “He didn’t know about the specifics of it, as far as I know. But he did know about the general arrangement,..”

As Trump explained in a series of tweets, Cohen was paid through a private retainer agreement, and the money to pay Daniels was presumably taken from these payments, not from payments made by Trump’s campaign.

“Mr. Cohen, an attorney, received a monthly retainer, not from the campaign and having nothing to do with the campaign, from which he entered into, through reimbursement, a private contract between two parties, known as a non-disclosure agreement, or NDA. These agreements are very common among celebrities and people of wealth,” Trump tweeted.

Donald J. Trump✔@realDonaldTrump

Mr. Cohen, an attorney, received a monthly retainer, not from the campaign and having nothing to do with the campaign, from which he entered into, through reimbursement, a private contract between two parties, known as a non-disclosure agreement, or NDA. These agreements are…..

Trump added that these types of agreements are “very common” among rich people and that Daniels’ violation of the NDA was clear-cut and that she would eventually be forced to pay up in arbitration.

“In this case it is in full force and effect and will be used in Arbitration for damages against Ms. Clifford (Daniels). The agreement was used to stop the false and extortionist accusations made by her about an affair, despite already having signed a detailed letter admitting that there was no affair. Prior to its violation by Ms. Clifford and her attorney, this was a private agreement. Money from the campaign, or campaign contributions, played no roll in this transaction.”

Donald J. Trump✔@realDonaldTrump

…very common among celebrities and people of wealth. In this case it is in full force and effect and will be used in Arbitration for damages against Ms. Clifford (Daniels). The agreement was used to stop the false and extortionist accusations made by her about an affair,……

Finally, Trump again insists that money from the campaign “had nothing to do” with Daniels or the payment made to her – and he also reminded the world that Daniels had previously signed a detailed letter denying the affair.

Donald J. Trump✔@realDonaldTrump

…despite already having signed a detailed letter admitting that there was no affair. Prior to its violation by Ms. Clifford and her attorney, this was a private agreement. Money from the campaign, or campaign contributions, played no roll in this transaction.

As Bloomberg White House reporter Jennifer Jacobs pointed out, Trump is making the argument that Giuliani had been trying to make last night.

View image on Twitter

Jennifer Jacobs✔@JenniferJJacobs

So this “celebrities and people of wealth” argument is what Rudy Giuliani was *trying* to do on Fox News in that wild interview last night: Shield Michael Cohen from campaign finance violation, and shield Trump from affair with Stormy Daniels.

That said, Jacobs also made the point that Trump’s story now also appears to have changed, even if he still denies having had an affair: “President Donald Trump changed his story regarding $130,000 in hush money paid to adult film actress Stormy Daniels during the 2016 campaign, saying Thursday he reimbursed lawyer Michael Cohen and denying the arrangement was improper.”

Giuliani’s statement indicates that Trump was aware of the payment and reimbursed Cohen for it. It is unclear when or how the reimbursement took place. The White House did not immediately respond to a request for comment.

“When I heard Cohen’s retainer of $35,000, when he was doing no work for the president, I said ‘That’s how he’s repaying, with a little profit and a little margin for paying taxes for Michael,’’’ Giuliani said.

Asked last month whether he knew about the payment to Daniels, Trump said “No.’’

Asked if he knew where Cohen got the money for the payment, the president said he didn’t.

“No, I don’t know,’’ Trump told reporters.

Daniels is suing Trump and Cohen to void her NDA and has also offered to return the money that Cohen paid her. And just days ago, she slapped Trump with a lawsuit – this time filed in a New York court – claiming that he had defamed her in a series of tweets mocking a sketch of the man she said had threatened her about the purported affair.

Still, even as Trump walked back Giuliani’s misstatement for him, the president’s enemies pounced on the opportunity to call him a liar. Michael Avenatti, Stormy Daniels’ preening, television-obsessed attorney, told MSNBC late Wednesday that Giuliani’s comments had left him “speechless.”

“I have to tell you, I am rarely, as your viewers know, rendered speechless,” Daniels’s lawyer, Michael Avenatti, told MSNBC’s Lawrence O’Donnell. “But I am absolutely speechless at this revelation and this admission.”

Avenatti said on MSNBC that that contradiction exposed an outright lie by the president – adding that it should “outrage” Americans.

“I don’t care whether you’re on the left or on the right or in the center. I don’t care what your party affiliation is,” he said. “You deserve to be told the truth by your president and the people that stand at the podium at the White House briefing station or podium at the White House briefing conference, press conference, and answer questions.”

One wonders if this morning’s tweetstorm will elicit another lawsuit from Daniels?

end

NBC reports that Michael Cohen’s phone lines were tapped and at least one phone call to the White House was recorded. I guess they will leak what was said in that wiretapped conversation. I guess attorney client privilege is out the window.

(courtesy zerohedge)

FBI Wiretapped Michael Cohen, Intercepted “At Least One” Call With White House

Tell us again, James Comey, how the Deep State doesn’t exist.

In the latest bombshell about the FBI’s investigation into President Trump’s personal attorney Michael Cohen, NBC News reported Thursday afternoon that the FBI had been wiretapping phone lines used by Cohen during the weeks before the raid on his home, office and hotel room, as well as for an unknown amount of time before.

And what’s more, NBC says prosecutors recorded at least one call between Cohen and somebody at the White House. We can almost guess who that “somebody” is…

Federal investigators have wiretapped the phone lines of Michael Cohen, the longtime personal lawyer for President Donald Trump who is under investigation for a payment he made to an adult film star who alleged she had an affair with Trump, according to two people with knowledge of the legal proceedings involving Cohen.

It is not clear how long the wiretap has been authorized, but NBC News has learned it was in place in the weeks leading up to the raids on Cohen’s offices, hotel room, and home in early April, according to one person with direct knowledge.

At least one phone call between a phone line associated with Cohen and the White House was intercepted, the person said.

Previously, federal prosecutors in New York have said in court filings that they have conducted covert searches on multiple e-mail accounts maintained by Cohen.

After the raid on Cohen’s office, members of Trump’s legal team reportedly advised him to speak with Cohen. But later, when Rudy Giuliani learned about the call, he advised Trump not to speak with Cohen on the phone again for fear prosecutors might be listening. Giuliani has also reportedly advised Trump that Cohen is likely to flip on him.

It is unclear what incriminating information Cohen could give prosecutors on Trump, if he chose to cooperate. He represented Trump and the Trump Organization in its business dealings for nearly two decades before Trump became president. Special counsel Robert Mueller is interested in any information that federal investigators in New York may pick up that would be relevant to his investigation into possible collusion between the Trump campaign and Russia.

Cohen has previously said publicly that he would invoke his Fifth Amendment rights if subpoenaed to avoid incriminating himself before a grand jury and there is no indication from public filings that Cohen is cooperating in the probe.

Given the volume of Trump legal drama scoops that have dropped this week, we expect to see more reports fleshing out what exactly the FBI learned from eavesdropping on conversations between Cohen and – presumably – his No. 1 client. Then again, none of this should come as a surprise: after all, thanks to the FISA warrant obtained as a result of the Hillary Clinton-funded dossier, both the FBI and the NSA already knew everything that Trump was saying long before he became president.

I will  see you FRIDAY night

HARVEY